United States President Donald Trump’s recent entry into the memecoin market has created a significant buzz, driving Google search interest for the term “crypto” to its highest level since 2021. According to Google Trends data from Jan. 19, the surge in searches occurred shortly after Trump launched his official memecoin token, sparking widespread attention in the crypto world.
Trump and Melania’s Memecoin Projects
On Jan. 18, just days before his inauguration, Trump introduced the Official Trump (TRUMP) token, marking his official debut in the crypto space. Not long after, First Lady Melania Trump launched her own memecoin, Melania Meme (MELANIA). While both tokens experienced significant traction during their launch, they eventually faced sharp price declines.
The release of these tokens brought the term “crypto” back into the spotlight. Google search interest reached its highest level since November 2021, a period when Bitcoin hit its all-time high of over $67,000.
Impact on Crypto Apps and Solana Addresses
Trump’s memecoin launch didn’t just influence search trends—it also caused a surge in the popularity of crypto-related apps. By Jan. 22, crypto trading platforms dominated the finance category on Apple’s App Store in the United States. The top three apps—Crypto.com, Moonshot, and Coinbase—saw a spike in downloads. Other platforms, such as Coinbase Wallet, Robinhood, Binance.US, DEX Screener, and Kraken, also ranked among the top 30 free apps in the finance category.
The memecoin frenzy extended to blockchain networks as well. Solana, in particular, witnessed a massive boost, with the number of new daily addresses hitting an all-time high of nearly nine million, according to data from digital asset custody service Copper.co.
New Investors Enter the Market
Trump’s memecoin release also attracted a wave of first-time crypto investors. A survey conducted by NFT Evening on Jan. 20 revealed that 42% of Trump memecoin buyers were investing in cryptocurrency for the very first time. This influx of new investors highlighted the growing appeal of memecoins in drawing people into the crypto space.
Risks and Controversies
Despite the excitement and increased interest in crypto, Trump’s memecoin launch has not been without controversy. Some experts and lawmakers have raised concerns about the potential risks associated with these tokens.
Crypto investigator Coffeezilla criticized the memecoin launch, stating that it “should be a crime.” Meanwhile, California Representative Maxine Waters issued a warning on Jan. 22, cautioning that Trump’s memecoin could pose risks to national security.
The memecoin’s volatile nature has also led to significant losses for some investors. Since its peak, the TRUMP token has dropped by 53%, with many community members reporting millions of dollars in losses.
A Mixed Legacy
While Trump’s memecoin venture has undoubtedly brought renewed attention to the cryptocurrency market, it has also underscored the risks and volatility associated with memecoins. For some, the event represents an opportunity to bring crypto into the mainstream, while for others, it serves as a cautionary tale about the speculative nature of these digital assets.
As the crypto world continues to evolve, Trump’s foray into memecoins will likely be remembered as both a groundbreaking and polarizing moment in the industry.